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A total of 292,927 shares changed hands on the counter till time (IST).

The stock trades at a P/E multiple of 21.2x and EV/EBITDA multiple of 9.1x its FY2024E estimates.

Given that the macroeconomic factors remain conducive in India and corporate earnings growth have improved, most brokerages are betting on automobile, banks, industrials, capital goods and engineering, consumer staples, real estate, and telecom sectors in 2023.

"Many companies have been saying about the drag in the rural areas and we think that the government is actually shifting there with a new supplementary Budget. Additional budget is going largely to the rural areas, into employment, into subsidy etc and those are the places where the policy shift is happening. "

Promoters held 9.7 per cent stake in the company as of June ended quarter while FIIs owned 51.35 per cent, DIIs 26.30 per cent.

The hope that Tesla will be the leading EV company in a future dominated by electric cars drove a spectacular eight-fold rally in the shares in 2020, earning its place in the S&P 500 and at one point making it the fifth-most valuable stock in the gauge.

Stocks that were in focus include names like Jindal Steel & Power which closed with gains of over 9%, Tata Steel which gained nearly 6%, and Fertilizers and Chemicals Travancore which closed with gains of 10% on Tuesday.

Shares of the infra company will trade ex-bonus in the ratio of 1:1. The company on December 19 informed that it has received in-principal approval from BSE in respect of the issue and proposed allotment of bonus equity shares in the ratio of 1:1.

Minor Call writing is seen at 18,350 then 18,150 strikes while Put writing is seen at 18,000 then 18,100 strike. “Options data suggests a shift in a higher trading range in between 17,800 to 18,300 zones,” added Taparia.

“Axis Bank is witnessing strong growth in the retail and mid-corporate segment along with MSMEs which should be its key growth driver. There is vehicle financing and micro financing which is a bigger portion for IndusInd compared to the mid-corporates and MSMEs is a segment where there could be strong growth which should drive Axis Bank in 2023.”